UPDATE: Mike Richards on Waivers; Buyout Next?


By now, nearly everybody knows there is much more to the story. His play has declined over the past few seasons – or at least his production has – and he simply isn’t cap-friendly enough for the Kings to hold on to at this point, with a contract that has five years remaining at $5.75M per. GM Dean Lombardi put his loyalty on full display by opting not to use his amnesty buyout on the 30-year-old center last summer, which was the last time he could do so without any additional cap penalties. Unfortunately, things turned from desperate to dire in January, but a stint in the AHL merely provided the team about $925K in relief, or enough to replace him on the NHL roster with rookie Nick Shore.

As we reported last month in a detailed report on the Kings’ summer to-do list, the real work is about to begin. Lombardi is in Las Vegas today, where he has been joined by GMs from every other team. Having already worked the phones, the in-person pitch to trade Richards is expected to be in full swing. Although a deal of any magnitude is unlikely to happen today, something could happen tomorrow or Thursday, as teams make their final preparations for this weekend’s NHL Draft. The Kings aren’t believed to be willing to include their 2015 first round pick (No. 13 overall) in any deal for Richards. However, other prospects and picks are in play from what MayorsManor has been able to gather.

Assuming there are no takers before the Draft wraps up on Saturday, everything will come down to a stress-filled 48-hour period beginning on Sunday; the NHL’s buyout window closes at 2pm PST on Tuesday, June 30.

Even with the official announcement of next season’s salary cap ceiling being set at $71.4 M, this is not a video game. These are real choices, with each option bringing a myriad of consequences. As a reminder, if they buy him out, the Kings will face a salary cap penalty for the next 10 years (far right column below):

All dollars in millions
salary original cap hit   savings   new cap hit
2015-16 6.0 5.75 4.53 1.22
2016-17 5.5 5.75 4.03 1.72
2017-18 4.5 5.75 3.03 2.72
2018-19 3.0 5.75 1.53 4.22
2019-20 3.0 5.75 1.53 4.22
2020-2025 -1.47 1.47
total 22 28.75
Buyout total (2/3 contract) 14.67
spread over 10 years 1.47

If you were the GM, what would you be looking to do:

MIKE RICHARDS RELATED CONTENT:

Mike Richards – ‘Laperriere guided me in the right direction’

Flyers Ian Laperriere on Mike Richards vs. Chris Pronger

5 Myths Surrounding Mike Richards to Toronto Trade Rumors

Full Details on Kings’ Maneuvers with Richards

Kings GM Dean Lombardi on the Future of Mike Richards

Instagram

Note to webmasters/reporters: When recapping news or interviews from this site please remember to include a link to www.MayorsManor.com

Recent Articles

This Date in LA Kings History: October 28

On October 28, 1998, goaltenders Stephane Fiset and Manny Legace shared a shutout in the @LAKings' 4-0 win against the New Jersey Devils. Fiset made 23 saves before being pulled in the second period due to an injury, and Legace made 17 saves in relief.#LAKings #GoKingsGo pic.twitter.com/sy4SOLKYGg
— The Kingstorian (@Kingstorian) October 28, 2020

Happy birthday to […]

This Date in LA Kings History: October 27

Happy birthday to former @LAKings forward Brian MacLellan, who was born on October 27, 1958.#LAKings #GoKingsGo pic.twitter.com/jc2RG76Avt
— The Kingstorian (@Kingstorian) October 27, 2020

On October 27, 2011, Jonathan Quick set an @LAKings’ record by not allowing a goal for 202 minutes and 11 seconds. Quick's shutout streak ended in the #LAKings' 5-3 win against the Dallas […]

Kings Of The Podcast: Ep. Q23 with Aidan Dudas and Jacob Ingham

Joining us all the way from Germany for back-to-back guest spots on Kings of the Podcast are prospects Aidan Dudas and Jacob Ingham.
Among the topics discussed:
– Playing for Eisbären Berlin
– Food, fashion, and fun going on in Germany
– NHL Draft
– Goaltending Coach Matt Millar
– World Junior Championship
– Akil Thomas, Sean Durzi, and Blake Lizotte
– […]

Major News Items

Anatomy of a Draft Pick – How the Kings Decided on Byfield

It seems that nearly every year there is a debate among two players either at or near the top of the NHL Draft board. This year was no exception, with Quinton Byfield vs. Tim Stuetzle being a common theme among … [Read More...]

More Prospect News

About John Hoven

John Hoven is a member of the of the Professional Hockey Writers Association and co-hosts Kings of the Podcast. He is also the founder and editor of MayorsManor.com, which has been named Best Sports Blog in Los Angeles by LA Weekly and Hockey Blog of the Year by Yahoo Sports. Click "ABOUT OUR TEAM" above for a full bio.

Comments

  1. With the news of expansion teams coming best to save and wait for an expansion draft. Buying him out is he worst thing to do with the massive hits in years 3-5

  2. Kyle Bilharz says

    If this could happen, the best scenario would be for the Kings to come to terms with Sekera, and then subsequently trade Richards, Martinez, and pick(s)/prospect(s) to a team looking to bolster their top 4 Dmen. In the wording of the deal, make the pick(s)/prospect(s) conditional upon the new team buying Richards out immediately, which in my understanding, is the only situation that allows Richards to be away from the Kings without any future cap penalties.

    What do you think of that?

  3. WallyBusch says

    I think these buyout numbers are wrong.

    • John Hoven says

      The numbers are accurate. LA’s cap hit after the buyout is in the far right column.